Virtus Investment Partners, Inc. (NASDAQ:VRTS) Shares Sold by BNP Paribas Financial Markets (2024)

Posted by MarketBeat News on Jun 2nd, 2024

BNP Paribas Financial Markets trimmed its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS – Free Report) by 33.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,409 shares of the closed-end fund’s stock after selling 1,185 shares during the period. BNP Paribas Financial Markets’ holdings in Virtus Investment Partners were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd raised its position in shares of Virtus Investment Partners by 230.7% during the 3rd quarter. Quadrature Capital Ltd now owns 14,888 shares of the closed-end fund’s stock worth $3,007,000 after purchasing an additional 10,386 shares during the period. Assenagon Asset Management S.A. grew its holdings in Virtus Investment Partners by 106.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 22,828 shares of the closed-end fund’s stock worth $5,519,000 after buying an additional 11,792 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Virtus Investment Partners by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,366 shares of the closed-end fund’s stock worth $19,061,000 after buying an additional 4,600 shares in the last quarter. Mariner LLC grew its holdings in Virtus Investment Partners by 12.2% in the 3rd quarter. Mariner LLC now owns 2,432 shares of the closed-end fund’s stock worth $491,000 after buying an additional 265 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Virtus Investment Partners by 550.0% in the 4th quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock worth $44,000 after buying an additional 154 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on VRTS shares. Piper Sandler increased their price objective on Virtus Investment Partners from $265.00 to $267.00 and gave the stock an “overweight” rating in a report on Wednesday. TD Cowen increased their price objective on Virtus Investment Partners from $245.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, April 29th. StockNews.com lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, Morgan Stanley increased their price objective on Virtus Investment Partners from $211.00 to $224.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th.

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Virtus Investment Partners Stock Performance

Shares of NASDAQ VRTS opened at $228.59 on Friday. The stock has a fifty day moving average price of $232.13 and a two-hundred day moving average price of $229.37. The firm has a market cap of $1.63 billion, a P/E ratio of 13.77 and a beta of 1.50. Virtus Investment Partners, Inc. has a 1 year low of $168.78 and a 1 year high of $263.39.

Virtus Investment Partners (NASDAQ:VRTS – Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The closed-end fund reported $5.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $5.41. The firm had revenue of $200.24 million during the quarter, compared to analyst estimates of $203.54 million. Virtus Investment Partners had a return on equity of 19.61% and a net margin of 14.02%. On average, research analysts predict that Virtus Investment Partners, Inc. will post 26.58 earnings per share for the current fiscal year.

Virtus Investment Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Wednesday, July 31st. Virtus Investment Partners’s dividend payout ratio is presently 45.78%.

Insider Transactions at Virtus Investment Partners

In other news, EVP Barry M. Mandinach sold 7,886 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $234.00, for a total transaction of $1,845,324.00. Following the completion of the sale, the executive vice president now directly owns 12,418 shares of the company’s stock, valued at approximately $2,905,812. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Virtus Investment Partners Company Profile

(Free Report)

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.

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